Obama Nominates Stein, Powell as Fed Governors

President Barack Obama will nominate Harvard economist Jeremy Stein and banker Jerome Powell to the two empty seats on the Federal Reserve's board of governors, Reuters reported Tuesday. Powell served at the Treasury during President George H. W. Bush's presidency, and later joined the Carlyle Group. He is currently a visiting scholar at the Bipartisan Policy Center in Washington. Stein worked for the Obama administration as an adviser to the Treasury secretary and a National Economic Council staff member, Reuters wrote. He specializes in stock price behavior, corporate investment and financing decisions, risk management and capital allocation inside firms, Reuters wrote.

North AmericaUSBriefs